The
global cosmetovigilance market size is calculated at USD 11.72
billion in 2024 and is expected to reach around USD 17.60 billion by 2033, with
a CAGR of 4.62% from 2024 to 2033. The Europe
cosmetovigilance market size was valued at USD 4.23 billion in 2023 and is
growing at a CAGR of 4.40% during the forecast period.
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Cosmetovigilance Market Key Insights:
· Europe dominated the cosmetovigilance market with the largest market share of 37.8% in 2023.
· By service type, the post-marketing services segment contributed the highest market share of 64% in 2023.
· By service type, the pre-marketing services segment is expected to grow at a notable CAGR during the forecast period.
· By categories, the skincare segment held the major market share of 33% in 2023.
· By service provider, the contract outsourcing segment generated more than 60% of market share in 2023.
· By phase type, the Phase IV segment recorded the biggest market share of 76% in 2023.
Cosmetovigilance Market Overview and Industry Potential
The cosmetovigilance market is growing remarkably due to its importance in addressing the safety of cosmetic products and services through the collection, evaluation, and reporting of adverse events caused by pharmaceuticals. Vigilance activities related to the reporting of adverse effects of cosmetic products, assessment of reports, and risk management are increasing. The companies or the potential end users of these pharmaceutical products can report adverse drug reactions by establishing many contacts and going through reporting forms. There are smooth steps towards the assessment of reports, which include signal detection, evidence-based evaluation, and validation of causality or severity of reported cases.
The Central Drugs Standard Control Organization (CDSCO) is the Central Drug Authority responsible for the regulatory control over the import of pharmaceutical drugs, the approval of newly invented drugs and clinical trials, conducting meetings of the Drugs Consultative Committee (DCC) and Drugs Technical Advisory Board (DTAB), and the approval of certain licenses. The manufacturing of cosmetics is regulated by the State Licensing Authorities under a system of inspection and licensing. However, the import of cosmetics is regulated by the Central Licensing Authority under a system of registration. In March 2024, Dr. Sam Samaras, the Head of Science and Technology at Unilever Plc reported that the company accounts for almost €23 billion turnover due to its beauty and wellbeing products and personal care business groups.
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Major Trends in the Cosmetovigilance Market
· Emergence of Cosmetovigilance Software solutions: The cloud-based applications allow to manage the pharmaceutical processes efficiently. The automation features and smart templates help in the reduction of pharmacovigilance-related costs. Safety databases are simple and affordable solutions for complete individual case safety reports (ICSR) management.
· Mergers and Acquisitions by Leading Industrial Players: In February 2024, the Botox Cosmetic Grant Program was announced in partnership with the IFundWomen for women entrepreneurs to expand their businesses with the help of mentorship, coaching, and crowdfunding. This initiative will honor 20 women entrepreneurs with $25,000 grants. The partnerships lead to competitiveness, enhanced communication and accountability, brand-enhancing design, and risk management strategies.
· Scientific advancements and Fruitful Research: Ongoing research and development in fields like dermatology, nutricosmetics, toxicology, and many other related fields contribute to the growing demand and need for cosmetovigilance. The innovative research and development of new products require safety standards to assess their effectiveness and avoid any harm or side effects to potential consumers in society.
Cosmetovigilance Market Report Coverage
|
Report Attribute |
Key Statistics |
|
Market Size in 2023 |
USD 11.20 Billion |
|
Market Size in 2024 |
USD 11.72 Billion |
|
Market Size by 2033 |
USD 17.60 Billion |
|
Growth Rate |
4.62% |
|
Leading Region |
Europe |
|
Base Year |
2023 |
|
Forecast Period |
2024 to 2033 |
|
Segments Covered |
By Service Type, By Categories, By Phase Type, and By Service Provider |
|
Regions Covered |
North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Insights from Key Regions:
North America is Experiencing Robust Growth in the Cosmetovigilance Market:
North America is witnessing significant growth by dominating the market due to the leading cosmetic product manufacturers and competitive companies working collaboratively with other government agencies for the regulation of safety standards of those innovative products. The cosmetic industries comprise various cosmetic devices, manufacturing equipment, raw materials, etc. which are driving the market’s successive path in the production, sales, and marketing of products.
The market also includes suppliers of packaging products, logistics service providers, and audit teams which boost the adoption of pharmaceutical products and services by a large population. The quality system software provided by industries assists in the control of documents, modifications, and training management. L’Oreal, Procter and Gamble, Revlon Inc., Johnson, and Johnson Services, etc, are showcasing prominent innovations in cosmetic products with their vigilance plans for maintaining the entire safety and effectiveness.
· In February 2024, the Personal Care Products Council situated in Washington held a 2024 annual meeting and 2025 Beauty Collective Summit that covers the latest research, insights, AI tools, and innovations by industrial leaders, and beauty speakers.
· In March 2024, L’Oreal published its vigilance plan of 2024 which is reviewed by the Ethics, Risk, and Compliance Department and presented to internal stakeholders.
Asia Pacific is Witnessing High Progress in the Cosmetovigilance Research:
Asia Pacific is leading the cosmetovigilance market at the fastest rate with advancements in technologies by major pharmaceutical and biotechnology companies. The industries are making efforts in quality assurance, quality management systems, medical information, and pharmacovigilance. Eversana is one of the key market players in the Asia-Pacific region that is dedicated to integrated process and technology, integrated data analytics, regulatory inspections, and other events which are the contributing factors for enhancing productivity and efficiency in the company’s performance.
The pharmacovigilance activities are ideal plans performed by industries in which several divisions play crucial roles including a global integrated compliance platform, centralized compliance monitoring center, regulatory and quality consulting platforms, etc. There are important plans organized by industries which include quality system implementation and management, quality system software, etc. Oriflame Cosmetics Global SA, Maybelline, Nivea, Colgate-Palmolive Company, etc. are reporting outstanding market revenues by providing trustful cosmetic brands to their consumers.
· Eversana is one of the leading pharmaceutical companies offering descriptive, diagnostic, and prescriptive data analytics or insights to address the potential issues associated with pharmaceutical products and to assess patient perception or understanding issues, etc.
· The Oriflame Cosmetics Global SA has over 20,000 business participants and in October 2024, the company announced a collaboration with scientists to launch a project and collaboration on skin’s longevity. The company collaborated with the Laboratory of Cellular Senescence and Skin Biology at the Institute for Biomedical Aging Research.
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Cosmetovigilance Market Segments Analysis
By Service Type Analysis
The post-marketing services segment
led the market with a significant share of 64% in 2023, due to the importance
of post-marketing surveillance of pharmaceutical products that include case
triage, case intake, tracking and reporting of adverse events, data entry, and
acquisition, etc. New drug formulations are screened and examined for the
presence of harmful components.
The National Pharmaceutical Regulatory Agency (NPRA) conducts activities
related to sample collection and testing, monitoring of label compliance,
handling of product complaints, monitoring of adverse reactions, risk
communication, etc. However, the pre-marketing services segment is anticipated
to reach the fastest growth rate during the forecast period due to services
like product security assessments, cosmetic product safety reports, information
files, etc.
By Categories Analysis
The skincare segment held the largest market share in 2023 due to the increased demand for skincare products including sunscreens and body lotions, fairness creams, skincare gels, etc. People are becoming conscious about their skin healthcare, so they are increasingly shifting towards moisturizers and face creams even for their daily skincare routines. In August 2024, Unilever Plc. accounts for €177 billion due to its suncare products and it is currently valued at €20 billion, and the innovations of this company are expanding across Indonesia, Thailand, India, and the Philippines.
The increased sales of skincare products in India are by 30%, 45% in Indonesia, and 22% increase in the Philipines. However, the perfumes and deodorants segment is expected to progress in the coming years due to the increasing demand for safe and clinically proven perfumes and fresh deodorants that help people get rid of skin itching, dryness, dizziness, skin rash, etc.
By Phase Type Analysis
The phase IV segment held a significant market share due to the observational studies included in these trials to assess patients for their regular medication treatments. The ongoing research and development efforts that are conducting vast research experiments by comparing the standard clinical trials with the placebo are also boosting the importance of the cosmetovigilance market globally.
By Service Provider Analysis
The clinical research organizations segment held a significant market revenue due to the establishment of new clinical research institutes for conducting experimental research on healthcare issues and the research organizations providing funding for research projects. Various companies are also interested in investing their shares in innovative products and services that help to expand their financial landscape.
Moreover, the business process outsourcing segment is expected to reach a notable growth rate due to the emerging demand for outsourcing surveillance activities and rising business preferences. The BPO firms are adopting cosmetovigilance software at a remarkable scale which also accelerates the growth of this segment in the coming years.
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Cosmetovigilance Market Top Companies
· Poseidon CRO
· AxeRegel
· PharSafer
· AB Cube
· Aixial Group
· Di Renzo
· Pharmathen
· Skill Pharma
· OC Vigilance
· Preclinical
· safety
· ZEINCRO Group
· FMD K&L
· POSEIDON CRO
· MSL Solution Providers
· Cliantha
· Pure Drug Safety
· KMJ pharma sp. z o.o.
· TheraSkin
· CORONIS Research SA
· PHARMALEX GMBH
· Bioclinica
· Tecnimede Group
· Sciformix
Competitive Landscape and Major Breakthroughs in the Cosmetovigilance Market
The cosmetovigilance market continues to evolve rapidly, with 2023 and 2024 witnessing significant advancements and a dynamic competitive landscape. Major players such as Cliantha, Bioclinica, OC Vigilance, Avon Products Incorporation, VLCC, Himalaya Herbals, etc. maintain a dominant position in the cosmetovigilance market. These companies are leveraging their vast resources and expertise to drive innovation and expand their clinical research capabilities.
* Interested in Company Profiles? Connect with Us for Detailed Profiles
The scientists of Oriflame launched a signature research project called Age Reflect which aims to understand the aging footprint of its consumers in Russia, India, China, and Mexico. The Skin Research Institute of Oriflame is dedicated to investigating innovative skin care technologies with the help of Oriflame’s research expertise. With the help of the Network Pharmacognosy platform, Oriflame’s scientists were able to discover and file a patent for a natural anti-wrinkle active ingredient for skincare and wellness.
What is Going Around the Globe?
· The Indian Journal of Pharmacy and Pharmacology reported the safety recalls in the cosmetics industry which includes the Food and Drug Administration in the U.S. (FDA) and the European Medicines Agency (EMA) in Europe. The USFDA and the EMA play vital roles in the assessment and monitoring of cosmetic products.
· The Asian Journal of Research in Pharmaceutical Sciences provided the need, reporting process, and functions of cosmetovigilance in India along with information about its regulation, and adverse effects of cosmetics. For the programmed communication about cosmetovigilance, WHO established the World-based Cosmetovigilance Centre in Sweden (Uppsala Monitoring Centre) while in India the headquarters of CDSCO is in New Delhi.
The research report categorizes the cosmetovigilance market into the following segments and subsegments:
By Service Type
· Pre-marketing Services
o Clinical Safety Testing
o Document Writing
o Risk Management
· Post-marketing Services
o Case Intake
o Case Triage
o Data Entry and Acquisition
o Tracking and Reporting
By Categories
· Skincare
· Makeup
· Haircare
· Perfumes and deodorants
· Hair Colorants
· Others
By Phase Type
· Pre-Clinical
· Phase I
· Phase II
· Phase III
· Phase IV
By Service provider
· In-house
· Contract Sourcing
o Contract Research organizations
o Business Process Outsourcing Organizations
By Region
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East and Africa
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or Asia Pacific.
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